(I-BusinessNews.Com, April 04, 2020 ) The report “Juice Concentrates Market by Type (Fruit, Vegetable), Application (Beverages, Bakery & Confectionery, Soups & Sauces, Dairy), Ingredient, Form, Brand & by Region (North America, Europe, Asia-Pacific, South America) – Global Forecast to 2021″, is projected to reach a value of USD 93.94 billion by 2021 at a CAGR of 6.0%.
The market is driven by factors such as increasing demand for convenience food & beverage products, rising health consciousness among consumers, and use of juice concentrates as a substitute in the bakery & confectionery industry. The high growth potential in emerging markets and untapped regions provides new growth opportunities for market players.
Vegetable concentrate is the fastest growing segment in the juice concentrates market by type during 2016–2021
Vegetable concentrate is projected to grow with a higher CAGR from 2016 to 2021. Vegetable juice concentrates are in demand due to their exceptional health benefits. Health-conscious consumers demand for vegetable juice beverages in developing as well as developed regions, such as North America, Europe, and Asia-Pacific which can lead to the growth of the vegetable concentrate market.
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Beverage segment depicts high potential for the juice concentrates market
Fruits and vegetable concentrates are widely used in the beverage industry. Fruits concentrates are especially used in the production of both alcoholic and non-alcoholic beverages. The increasing demand for health-related drinks has driven the beverage market globally. The increasing health awareness among consumers especially in regions such as North America, Europe, and Asia-Pacific has led consumers to demand for beverages that have fruit and vegetable content in them. This in turn has led to the demand for fruit and vegetable concentrates in order to satisfy consumer’s demand. Moreover, the hectic lifestyle of the consumers has resulted in the demand for convenience food & beverages that are easy to consume and this in turn has increased the production of those beverages that are healthy as well as convenient to consume. In addition, fruit and vegetable juice concentrates in beverage act a convenient and suitable substitute for carbonated soft drinks and aerated drinks.
Significant growth for juice concentrates is observed in the Asia-Pacific region
Asia-Pacific has a high growth potential for juice concentrates. This region has many emerging countries, such as China and India, which have considerable cultivable land to grow crops. Moreover, China is among the leading countries for juice concentrates as the country faces technological growth in agriculture and urbanization which has led to the higher standards of living among consumers, resulting in the rise of convenience food & beverage products. Moreover, China is one of the major exporters of juice concentrates in Asia-Pacific and the rise in the consumption of healthy beverages has prompted the growth of the juice concentrates market in the country.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such AGRANA Investment Corp (Austria), Archer Daniels Midland Company (U.S.), Ingredion Incorporated (U.S.), Sudzucker AG (Germany), and SunOpta, Inc. (Canada).
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In terms of insights, this research report has focused on various levels of analyses industry analysis and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global juice concentrates market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
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